Funding you earn now, next payment 02:00 UTC−0.0492%/8h= −53.8% APRpaid last 24h −0.355%
Price spread now: Phemex against GMX−0.131%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Phemex is 0.131% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX ICP/USD [WBTC.b-USDC] | 3.0059 | L +0.0509% / S −0.0480% | pay 0.0064% / 1h | 15m 27s | $37K | — | 100x |
| Short | Phemex ICPUSDT | 3.0020 | 0.0017 | get 0.0017% / 8h | 6h 15m | $1.8M | $799K | 50x |
GMX ICP/USD [WBTC.b-USDC]
Phemex ICPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$103.24
- Price spread: −0.131% → 0.000%
- −$13.06
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$140.31
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy GMX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 3 min ago | 1.66 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
ICP on 26 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ICP_USDC-PERPETUAL | −0.0216% | 1h | 3.0048 | −0.037% | $268 | $464 | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 3.0042 | −0.057% | $70K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0011% | 1h | 3.0053 | −0.021% | $23K | — | 150x | as long as short |
| Variational Omni ICP | +0.0009% | 8h | 3.0039 | −0.066% | $1.1M | $116K | — | as long as short |
| Phemex ICPUSDTshort | +0.0017% | 8h | 3.0020 | −0.131% | $1.8M | $799K | 50x | |
| Injective ICP/USDC PERP | +0.0033% | 1h | 2.9665 | −1.312% | $202 | $200K | 12x | as long as short |
| Lighter ICP | +0.0096% | 1h | 3.0070 | +0.036% | $164K | $492K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 3.0041 | −0.062% | $279K | $1.7M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 3.0041 | −0.061% | $136K | $11K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 3.0039 | −0.067% | $29.6M | $53.7M | 75x | as long as short |
Deribit ICP_USDC-PERPETUAL
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Variational Omni ICP
Injective ICP/USDC PERP
Lighter ICP
Aster ICPUSDT
Pacifica ICP
Binance ICPUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ICPUSDT | +0.0100% | 8h | 3.0030 | −0.097% | $17.6M | $19.0M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 3.0040 | −0.064% | $5.8M | $17.1M | 50x | as long as short |
| Gate ICP_USDT | +0.0100% | 8h | 3.0040 | −0.064% | $1.9M | $3.1M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 3.0040 | −0.064% | $19.4M | $10.1M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 3.0020 | −0.131% | $4.9M | $13.4M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 3.0050 | −0.031% | $7.1M | $4.9M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 3.0040 | −0.064% | — | $6.0M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 3.0086 | +0.090% | $23K | $280K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 3.0104 | +0.150% | $584K | $491K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 3.0050 | −0.031% | $1K | $1.8M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 3.0020 | −0.131% | $105K | $239K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 3.0033 | −0.089% | $22K | $125K | 10x | as long as short |
| Hyperliquid ICP | +0.0176% | 1h | 3.0083 | +0.079% | $4.7M | $5.0M | 5x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0256% | 1h | 3.0180 | +0.402% | $65K | $71K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC]long | L +0.0509% / S −0.0480% | 1h | 3.0059 | long leg | $37K | — | 100x | |
| Kraken Futures PF_ICPUSD | +0.0893% | 1h | 3.0080 | +0.069% | $545K | $609K | 50x | as long as short |
Bybit ICPUSDT
OKX ICP-USDT-SWAP
Gate ICP_USDT
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
Hyperliquid ICP
Coinbase International ICP-PERP-INTX
Kraken Futures PF_ICPUSD